commas and conjunctions

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I have been confused about this issue for years (and I'm old). The following sentence is from the Portland State University Master's of Public Administration Student Guide:

"We recognize that solutions to contemporary problems require innovative approaches and
alliances among governments, nonprofits and businesses, and encourage our faculty and students
to engage in multidisciplinary and collaborative approaches to advance the public interest."

This issue is that comma in between "businesses" and "and encourage..." Isn't it wrongly placed? In order to require a comma wouldn't we need a subject restated? As in: "and businesses, and WE encourage..." And, if I am correct and that comma is incorrectly placed, what part of speach is that particular "and." It cannot be a conjunction, as there are not complete sentences on either side of it. Right?